Key Points
- American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC.
- Spending on AmEx cards jumped 8% year over year in the fourth quarter after slowing down from a 7% growth rate early in the year to 6% in the second and third quarters, according to the firm’s earnings presentation.
- The pickup was especially fueled by millennials and Gen Z users, who spent more on experiences such as travel and entertainment.
